To ensure the prompt payment of interest and provision for the payment of the principal on bonds issued under this subtitle: (1) the prompt and proper performance of the acts required under §§ 22-106 and 22-108 of this subtitle is specially enjoined; and (2) a person who is required to act under §§ 22-106 and 22-108 of this subtitle: (i) shall perform the acts required under those sections; (ii) shall pay over any funds as required under those sections; and (iii) may not use any part of the funds for any other purpose than for the payment of principal and interest on the bonds.
‹ Prev All Maryland sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.